The Internal Revenue Service announced today that the maximum annual contribution limit that federal employees can contribute to the Thrift Savings Plan will not change in 2021.
The TSP’s annual contribution limit will remain $19,500 next year, the same as it was in 2020. The catch-up contribution limit for federal employees aged 50 and over also remains unchanged at $6,500.
The limit on annual contributions to an Individual Retirement Account (IRA) remains unchanged at $6,000 for 2021 as well. The additional catch-up contribution limit for individuals aged 50 and over is not subject to an annual cost-of-living adjustment and remains $1,000.
Additional details can be found in the IRS notices about next year’s contribution limits: